Banking News

The prospect of record low savings rates continuing is forcing many savers to review how they allocate their capital in an attempt to achieve the level of returns they have previously enjoyed. Investing in the stock market inevitably involves putting your capital at risk however there is a middle ground which continues to attract increasing interest – the structured deposit. With this in mind, we take a deeper look at this savings alternative to help understand why more and more savers are starting to see their appeal. more

With the current economic environment asking savers far more questions than it gives answers, it is good to know that there are alternatives available. We take a look at one such alternative that is proving particularly popular as savers face the harsh reality that the more traditional fixed rate savings products are failing to meet their needs. more

Millions of savers are facing the harsh realisty that there is little hope of change to interest and savings rates in the coming years. However, those with Cash ISAs do have one further option to consider – the ISA transfer. We take a closer look at why this is becoming a rising trend as well as what this could mean for those looking for the potential to improve the returns from their capital. more

With so many savers joining income investors in the hunt for high yields, being able to quickly understand and compare the numerous options available has become even more important. We therefore compare two of our most popular income investments to help understand what is driving their popularity and why they might meet your income needs. more

Financial experts warn lack of exams could bring trouble for firms

07 September 2005

UK firms could lose out financially in the long-term if Financial Services Authority (FSA) plans to alter required training and competence are accepted, an expert financial magazine has argued.

According to the latest issue of Securities & Investment Review magazine, the journal of the Securities and Investment Institute (SII), UK financial services companies are at risk of long-term damage, both in terms of finance and reputation, if the changes go ahead.

Chief executive of the SII, Simon Culhane, challenges the FSA CP 05/10 proposal on Training and Competence, under which the authority proposes that individuals dealing with wholesale customers would no longer need to be registered, or have to pass appropriate examinations.

Mr Culhane states: "Exams are a standard, objective, trusted and recognised test of competence across the industry.

"How will firms prove competence? Against what benchmark will competence be determined?"

"At the moment exams provide individuals with a 'passport' which helps labour mobility between firms and countries. How will people move jobs if this passport is now removed?"

The SII boss also indicates that his organisation might be willing to take over the administration of the 'approved persons' (APs) scheme from the FSA.